Insurance pricing capabilities are becoming increasingly sophisticated. This coupled with the increased availability of data, in terms of exposures (e.g. PERILS) and hazards, is creating difficult choices for insurers. It is also leading to risks that might not be economical to insure. This session will look at these issues, as well as present an engineering view of where the nature of the risk can change, such as new building materials that are more resilient to perils. The session will finish with a view from the Insurance Council of Australia on the role of insurers in the funding mix for natural catastrophes for Australia.

10.35am

Morning Tea

11.00am

Plenary 2 – Challenges in Funding High Risk Areas

Chair: Simone Collins

Tim AndrewsJohn McAneneyScott Reeves

The current insurance model for funding natural hazard impacts to private and commercial dwellings involves risk rating, whereby premiums can vary significantly for properties assessed to be high or low-risk. What challenges does this model present? What is the extent of the affordability challenge and could pooling arrangements assist, or would these create new issues? During this plenary, speakers will address these and other questions.

12.30pm

Lunch

1.30pm

Plenary 3 – Impacts of Catastrophes on Communities

Chair: Sharanjit Paddam

Richard Thornton Melissa ParsonsRachel NibbsAndrew Coghlan

What are the financial and non-financial impacts of catastrophes on communities? What can we learn from past disasters about the social impacts on communities and individuals? How can we best position ourselves for rapid and effective reconstruction post-event? During this plenary, speakers from leading organisations with on the ground experience of disasters and recovery will address these and other questions.

3.00pm

Afternoon Tea

3.25pm

Plenary 4 – Managing Uncertainty of the Future

Chair: Richard Yee

Dr David KarolyProfessor Holger R. Maier
Rade Muslin

The nature of future Hazards will likely be different from today. What will future hazards look like?

In 2050, the man-made environment and the natural environment could be dramatically different than what we can even imagine. The effect of the current technological upheaval combined with climate change coupled with strong population growth in major cities presents future planning challenges. How should governments and planning bodies find solutions to deal with future growth and future hazards to build resilient cities?